01855cam a22002417 4500001000600000003000500006005001700011008004100028100002800069245017300097260006600270490004100336500001000377520084200387530006101229538007201290538003601362700002401398710004201422830007601464856003701540856003601577w0839NBER20150802170054.0150802s1982 mau||||fs|||| 000 0 eng d1 aMarion, Nancy Peregrim.10aStructural Differences and Macroeconomic Adjustment to Oil Price Increases in a Three-Country Modelh[electronic resource] /cNancy Peregrim Marion, Lars E.O. Svensson. aCambridge, Mass.bNational Bureau of Economic Researchc1982.1 aNBER working paper seriesvno. w0839 a1982.3 aIn this paper a three-country model based on intertemporal maximizing behavior is constructed in order to analyze the effects of oil price increases on welfare levels and trade balance positions. The model can also be used to assess the effects of oil price increases on the world interest rate, on the final goods terms of trade between oil importers (what is sometimes called the real exchange rate), and on output, investment and savings levels, oil imports, wages, and consumption at each date. The analysis highlights the role of structural asymmetries between oil importers in accounting for differences in trade balance responses. A number of structural differences are isolated in turn in order to determine their influence on the final goods terms of trade, which is the key factor in affecting relative trade balance positions. aHardcopy version available to institutional subscribers. aSystem requirements: Adobe [Acrobat] Reader required for PDF files. aMode of access: World Wide Web.1 aSvensson, Lars E.O.2 aNational Bureau of Economic Research. 0aWorking Paper Series (National Bureau of Economic Research)vno. w0839.4 uhttp://www.nber.org/papers/w083941uhttp://dx.doi.org/10.3386/w0839